Hydro International (AIM: HYD) – disappointing update but sell off looks a little overdone
The provider of environmentally sustainable and innovative products for the control and treatment of water saw it’s shares tumble14% today which looks a little harsh despite the disappointing trading update.
A challenging environment through the early part of 2012 has resulted in delays in the timing of some projects the consequence of which is a first half performance lower than the ‘record’ performance of 2011. Full year results are now to be significantly weighted towards the second half of the year. Following the difficulties experienced with project flow during 2011, the UK Wastewater business has seen an increase in activity in 2012. The house broker has maintained current forecasts for pre-tax profit of £2.8m for the year ending 31st Dec 2012 and adjusted eps of 12.9p, resulting in a forward…